CRA rules that two properties to be used in an expanded farming business will be replacement property for a single former property

CRA has ruled that where the expropriation proceeds of a farm will be used to purchase two nearby farms (with the scale of the farming business also to be expanded), the two new farms would qualify as replacement properties for s. 44 purposes. This acceptance (consistent with IT-259R4, para. 28) that there can be more than one replacement property, and of some forms of business expansion, are not new.

Neal Armstrong. Summary of 2016 Ruling 2016-0632001R3 under s. 44(5).